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, clinton, and the first george bush, moved away from a position no additional taxes. they all added revenues to deficit reduction. a significant amount of revenue. >> your colleague from georgia just this week said the following about that pledge not to raise any taxes. >> you know, that pledge i signed 20 years ago was valid then. it's valid now, but times have changed significantly.Ñi and i care more about this country than i do about a 20-year-old pledge. >> it is my view that the issue of taxes is the number one stumbling block to any kind of fiscal deal. that has to be resolved first before you can get to issues like sequestration. when you hear that from a colleague, does it say to you that there is room, and does the president do anything short of raising tax rates on the wealthy? is there anything short of that acceptable? >> well, you've got to raise additional revenues, including tax rates on the wealthy. >> those have to go up? >> they have to go up. there's ways of doing that. secondly, though, we've got to close some significant loopholes. for instance, the ones which
. >> they voted for government that works. >> we don't understand why raising tax rates is the solution. >> can party leaders get a deal? >> impossible. >> all this talk about taxing the rich is nonsense. >> grover norquist. >> you speak of grover norquist. >> he's an entertaining warrior. >> pledge mentality is really on the run right now. >> speaker boehner clearly wants a deal. >> he can't have one arm tied behind his back. >> the top 1%, only 42% of the wealth. >> 48.5 million people lived below the poverty level. >> we should ask the wealthy to start paying their fair share. >> the american sense of fairness, no one should pay more than 25%. >> today's republican party has imploded. >> they are in denial. >> they are looking for someone to blame. >> grover is no longer speaking for the party. >> they may not be willing to just die on this hill anymore. >>> good evening. i'm ezra cline in for lawrence o'donnell. the craziest thing is happening in washington right now. you've probably heard of the fiscal cliff or as lawrence likes to call it, the fiscal curve or as my friend calls t the aust
pass a law that would prevent a tax hike on the first $250,000 of everybody's income. >> the election's over. he won. congratulations. >> if we can get a few house republicans to agree as well -- >> we all agree but we're not going to raise taxes on people that make less than $250,000. we should take them out of this discussion. >> i've got a pen. i'm ready to sign it. >> he's got the republicans on the ropes and they know it. >> obama's answer to this budget crisis is to raise taxes on the wealthy just because he ran on that promise. and won the election. >> the president really wants to reach an agreement, he needs to be talking with the members of his own party right here in washington. >> it's too important for washington to screw this up. we really need to get this right. ♪ how do you like me now ♪ ♪ how do you like me now ♪ >> good afternoon, it is difficult to hold down the excitement here in new york. it is a growing frenzy that everyone's talking about. there are fantasies of celebration, if the numbers go their way. there are teams pooling resources.
, a new report out today showing how tax hike fears could impact consumer spending during the all-important holiday shopping season. part 2, the president's plans to take the issue straight to the voters and campaign style appearances and the use of an army of campaign volunteers to sell his message on tax hikes. the hope, that the coalition that put president obama back in office will help him ramp up the pressure on congress to make a deal. joining me now, chris van hollen and also a member of the house budget committee, congressman, good morning to you, sir. >> good morning, craig. great to be with you. >> the national journal reporting that the president could hold events related to the cliff this week. what are you hearing? >> well, i think that's right. i don't think anything has been settled. there have been on going conversations, but obviously the discussion will heat up this week now that the thanksgiving is behind us. >> what does the white house hope to accomplish with these types of events? >> well, look, this was not a side issue in the campaign. throughout the last
me smile until the numbers come out. and then you will get taxed to kingdom come. it will not even help the deficit. warren buffett can help them out. lori rothman and melissa francis with more coming up. dagen: the market is up, that is good. good afternoon read >> pushing for middle-class tax cuts without any spending concessio concessions, president obama to meet with business leaders on the fiscal cliff after speaking just last hour. we'll ask lou dobbs that he thinks ceos will help to make deals happen. >> now washington is looking at the one sacred mortgage deduction, maybe get rid of it to help heal the budget crisis. >> charlie gasparino on the future of the firm. time for stocks as we do every 15 minutes, before the new york stock exchange, nicole petallides on the floor. a deal is possible by christmas. >> hoping to get some positive comments from john boehner. he is optimistic. a nice little boost. from negative to positive to the session highs, no 50 points away from dow 13,000 once again. the dow once again up 73 points. you have a lot of winners. the banking index is
norquist's anti-tax pledge. saying they're open to letting revenues rise if democrats do their part in the budget talks. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. for instance, if i were in congress in 1941, i would have signed the declaration of war against japan. we're not going to attack japan today. the world has changed, and the economic situation is different. >> so peter king is telling us, mike barnicle, not only is he going soft on taxes, he's going soft on japan. >> i know. >> it's not just peter king on the taxes. it's a big step, don't you think? >> it's a big step. >> grover. yeah, grover's taking a big hit since the election. there's no doubt about it. i think john, you'd verify this. number of republicans, i've talked to a couple of united states senators who
to sign a pledge from somebody else. >> what they're talking about again is tax revenue and the house speaker has talked about it. mitt romney campaigned on it. >> lowering deductions and closing loopholes. >> eliminate or limit rather deductions and credits and exemptions. cutting out the exemptions and loopholes. >> grow this economy and engage in tax reform. >> simplify the code. >> ywhen you get divorced, thats what happens. ♪ >> welcome back after the thanksgiving holiday and all eyes are on the fast approaching fiscal cliff with republicans possibly maybe looking to make a deal. with the deadline now just 36 days away, some top republicans suggest they could, shock, horror, break with their sacred pledge to grover norquist. >> i'm not obligated on the pledge i made tennesseans aware is just elected that the only thing i'm honoring is the oath that i take when i serve when i'm sworn in this january. >> there's a lot that has been said about this pledge, and i will tell you when i go to the constituents that have elected -- re-elected me, it is not about that pledge. it really i
is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senators lindsey graham, saxby chambliss, congressman peter king among other republicans who said they'd be willing to break away from grover norquist's anti-tax pledge. will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal government takes away from job creators is going to harm economic growth a
is that revenue going to come from? >> increasing tax rates is going to harm economic growth. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the floor. >> i'm more positive than most. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would
on what to do about revenues with the white house saying the bush era tax rates should expire and republicans insisting any new revenues come from closing loopholes in the tax code. kristen welker joining us from the white house. he said the talks said to be stalled. what is the white house saying? >> reporter: they certainly know this is going to be a tough slog. certainly you had this sort of sense of bipartisanship after the leaders came to the white house. it seems as though that has gone awe with democrats digging in their heels on the issue of entit entitle. s and republicans on taxes. congress talking about some types of compromises, one that would include rolling back tax breaks for big corporations and wealthy americans as you just talked about. another one would potentially roll back the bush era tax cuts but instead of allowing rates to go back up to the clinton levels of 39%, maybe they would go back to 37%. these are just some ideas being talked about. you're absolutely right. there is nothing that really looks to be moving forward at this point in time. but the o
)s and other places. so supply-side tax reduction certainly counts. .. about the last time around. >> your tax pledges between the representative. if there is a net increase would you say that is in violation of the pledge and are you worried about the words that you are hearing from speaker boehner? is he talking about a net tax increase or are we hearing that rahm? >> he's in favor of revenues that come from growth and needs to see serious spending restraint. i am in favor of revenues to come from economic growth. one of the numbers that doesn't get tossed around is cbo. the cbo says if you grew at 4% a year -- congressional budget office -- they do static modeling. they do a whole bunch of things that i think understate the case for how important growth is or how you get growth, but if you grow 4% a year, reagan numbers instead of 2% a year, france, or obama's high point -- you do that for a decade, to present additional growth, 4% a year, not to present, the federal government lets $5 trillion more than it would have because more people are working. at this point, from the bottom of the re
to their attitude, taxes, the works. the people who hate to lose are blaming the right. the people who hate the center almost just as much as the left are saying they're right and they're going to not budge an inch. this looks like a fight with legs and not a bad spectator sport for progressives as napoleon once said, never interrupt your enemy when he's making a mistake. robert traynham and erin pikes. this should be an interesting match-up, you two. let's talk about this situation. i want to show you a tape from deny senior on "morning joe," a foreign adviser to mitt romney. he took on mitt romney critics have been filing on him. >> tens of thousands of people, you could hear the top ten surrogates at the event. i'm backstage with some of them, i won't mention their names but talking about romney like he's reagan. you know, the debate performances were the best debate performance of any republican nominee in presidential history. this guy was iconic. they were talking about him, because they believed he was going to win in four, five days. in fact, some of them were talking about transiti
-class voters at the white house to press congress for tax hikes on the rich. >> i can only do it with the help of the american people, tweet using #my 2 k, e-mail, post it on a member of congress's facebook wall. do what it takes to communicate a sense of urgency. >> on the other side of pennsylvania avenue, john boehner says he thinks there is a way to avoid that cliff. >> it's time for the president and democrats to get serious about the spending problem that our country has, but i'm optimistic we can continue to work together to avert this crisis and sooner rather than later. >> and look who's coming to lunch. mitt romney will break bread with the president at the white house tomorrow. >> pledge of allegiance, anti-tax crusader grover norquist warns republicans against breaking their promise. >> it is possible if the republicans lose in such a way they've got their fingerprints on the murder weapon, then you have a problem. bush couldn't run again in '92 successfully because he had his fingerprints on a very bad deal, bad on spending and bad on taxes and he broke his word. >> what is alan s
of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i think, on immigration reform, and i think you're going to see it on spending and taxation. and you don't have to effect or change basic tax rates. as you know, there's all sorts of things you can do on so-called tax expenditure dealing with home mortgage deductions, dealing with state and local taxes. also there's things obviously on the spending side, entitlements and domestic spending, this isn't that hard. this is, if you will, a mini-package. this isn't necessarily on the scale of simpson-bowles. it doesn't need to be. this ought to be doable. >> john heilemann, obviously both sides have to give. everyone's been saying that. there needs to be room for compromise, figure out how to get there. how does a deal look? is there a possibility of a
the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government spending could impact public safety. >> i think you should be worried if you have a defense job and we all ought to be worried whether we are dependent upon other aspects of the federal budget. whether we're worried about the regulation of our food safety, whether we're worried about our borders being secure, whether we're worried about fbi being supported, it's all affected by sequestration. >> joining me now, cnbc washington reporter eamon javers. you heard the numbers
and picks up just where it left off. stalemated over tax rates and entitlement spending. >> unfortunately, there's one obstacle standing between congress and compromise, grover norquist. for years, norquist has bullied lawmakers willing to put their oath of office or promise to serve constituents ahead of their pledge to this anti-tax zell lot. >> the washington democrats, every dollar that's ever been secured for anything is sacred. every dollar secured for anything is sacred. and they'll defend it to the death regardless of what it means for jobs, or the economy. >>> coming up here, the it's top economic adviser alan krueger. clashes in cairo today, more protests in tahrir square against egypt's president morsi. we'll have a live report. move over george clooney the on yan's kim junge un the sexiest man alive and beijing doesn't get the joke. good day, i'm andrea mitchell live in washington. no joke today on capitol hill. ambassador susan rice's attempt to clear the air with republicans over benghazi did not work as the white house had hoped. senators mccain, ayotte and graham say they
will ruin christmas. >> what they're talking about is raising revenues and not tax rates. >> republicans have stepped out of our comfort zone. >> there are very few republicans who have any clear sense of what they want. >> republicans should look forward to a 2014 wipeout. >> bottom line, would raising taxes on the wealthiest americans have a chilling effect on hiring in this country? >> no. >> the republican party has not developed an alternative idea set other than what mitt romney and paul ryan were campaigning on. ♪ america, america >> are we going to continue to making our case? >> i will say this, i can never, ever find my car in a garage. ♪ i'm going off the rails on a crazy train ♪ ♪ i'm going off the rails on a crazy train ♪ >> with frantic and frenetic behind-the-scenes negotiations as both sides work against the clock trying to reach an agreement on the fiscal cliff that is fast approaching. the president is trying to ramp up public pressure on congress to accept his ideas for debt reduction in. in the coming days he meets with small business owners, middle class ta
grover norquist, condemning his pledge never to raise taxes. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> how's that for a profiling courage? senator graham is standing up to a pledge he made to an unelected official in charge of a group that most americans never heard of. a pledge that's 26 years old. but at least graham is voting to raise taxes on the wealthy. right? wrong. >> raises tax rates will hurt job creation so i agree with grover we should not raise rates. i will violate for the good of the country only if democrats will do entitlement reform. >> so he won't raise tax rates and entitlements need to be gutted. but that's more like it. let's see some more brave talk from the gop. >> i'm not obligated on the pledge. there's a menu of options on the revenue side and on the entitlement side and as long as there are two parties that are willing to solve this problem, this is a very easy thing to do technically. what it takes is political courage. >> guess
to get the majority of a majority on tax issues. he's not going to get a majority of majority on debt raising. >> much harder on the debt ceiling than taxes. >> that's what i'm saying. i refuse to vote to raise a debt ceiling when they were trying to raise it to $5 trillion. it's something you don't do unless you get a lot of cuts on the other side. >> and it's not a game. because if you don't raise it, we saw what happened last time, you can get your debt downgraded and has real economic consequenc consequences. and that's why when people think about the fiscal cliff, we all assume that sane minds will prevail and they'll come up with some deal. there's no guarantee that sane minds will prevail. and recent history would suggest that sanity almost never prevails in washington. so you can assume it's going to be more difficult than we think. you can assume that the bush tax cuts might all go away for a short period of time. and you cannot assume they just raise the debt limit. you cannot make that assumption. >> are the president's men and women -- are they under -- are they making the
in their heels on the issues of taxes. democrats seem to be hardening their stance. taxes, that challenge is going to be to find a way to increase taxes on the wealthy. to increase taxes on higher earners without increasing the rate. that would be a win win for both sides. the question is, how do you do that? one option, to potentially roll back tax breaks that wealthier americans and corporations are given. they're batting a couple of ideas around. one thing that is giving folks hope, the fact that house speaker john boehner and eric cantor seem to be working more in lock step now than they were during the summer of 2011. if that holds, it really could help the house of representatives to get on 3w0rd of some type of idea. >> we've heard from chairman bernanke and others. how much of a factor will the fed and the ceos of all these major companies be as we get closer to this major deadline? >> one of the questions is how do people react where all these tax increase, all these spending cuts take effect. if there's no deal in the middle of december, say, do we start to see some real impacts
on a platform of increasing taxes on wealthier americans, if you look at the polls a majority of americans actually agree with him on that issue. as you know, president obama invited congressional leaders to the white house last week. they struck a rare tone of bipartisanship after that meeting. then as you point out, seems like both sides sort of went back to their respective corners and democrats really digging in their heels on entitlements, republicans digging in their heels on the issue of taxes. we're told that aids on the hill are trying to work through a couple of compromise scenarios, especially on the issue of taxes, that would essentially allow taxes to go up on wealthier americans without increasing the rates. there are a couple of ways that you can do this. one would be to roll back tax breaks that will wealthier americans get. another idea is to possibly tax higher income earners on the lump sum of their salaries. so they're sort of batting some of those ideas back and forth. one component though, alex, that is giving folks around here some optimism, speaker boehner and major
to usual his party to strike a deal. right now, get this done. keeping the bush tax cults for 98% of americans, give up on keeping tax cuts low for the wealthy, 2%. take a listen to what cole on capitol hill had to say moments ago. >> in my view, we all agree that we're not going to raise taxes on people who make less than $250,000. we should take them out of this discussion right now and continue to fight against any rate increase, continue to try to work honestly for a much bigger deal. >> has the tipping point been reached, sir? is the compromise in front of us right now because so many republicans are willing to talk act revenue? >> well, look. tom cole, who is a friend of mine, was the former chairman of the republican congressional campaign committee. i am the current chairman of the democratic congressional campaign committee. anytime you can get the former republican congressional campaign committee chair and the current democratic congressional committee democratic chair to agree on something, do it, pass it. tom cole is right. this is why people are frustrated with wash
more in taxes next year, coupled with $100 billion in cuts to domestic and defense spending. now, since the reagan era, most republicans have pledged not to raise taxes. as mike viqueira reports, there are signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed. to oppose tax increases of any kind. that once solid wall was showing crass. >> the pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed, and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree that changes in social security and medicare. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> reporter: activists on the left are lining up to oppose those reforms, but the president has put them on the table before. during last year's failed talks on a grand bargain and more recently in his first post-election press conference. >> we have to continue to take a serious look at how we reform our
will be holding a series of meetings with leaders of large corporations to talk about averting the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners on tuesday to talk about the effect on their companies from taxes and other charges. right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. and last night on hardball, former republican senator alan simpson gave his thoughts on the fiscal cliff and failure of lawmakers to reach an agreement. p. >> they love their party more than they love their country. how it we get to that point, don't ask me, but the whole business of reform and money in the campaign and beat up the guy, and it's not a case of who wins. it's you want to be sure somebody loses. and i say to people whether it's grover norquist or whatever, lord's sake, if you can't step up to the plate, what can happen to you? they can't murder you, they can't burn your house. the only thing they can do is defeat for you re-election by
to raise taxes we're going to do it on everybody. that to me is fairness. i don't think anybody's taxes ought to be raised. i'm offended listening to the people responsible for this blame the american people because they're not paying enough in taxes for the problem. that's not our problem. our problem is a spending problem, first, second, third, fourth, fifth, on down to number ten. >> the countdown is on and we're 42 days from running off the so-called fiscal cliff. yesterday as you heard, rush limbaugh came down hard against raising taxes to solve this problem. he lamented the gop infighting whether to let the bush tax cuts expire on the richest americansp during a speech yesterday, federal reserve chairman ben bernanke who coined the term fiscal cliff warned of dire consequences if congress doesn't get their act together. >> spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat recovery. by the reckoning of the congressional budget office, the cbo, and that of many outside observers a fiscal shock of that size would send the economy to
mitchell live in washington. congress is back. grover norquist's tax pledge could be history. and all eyes are now focusing on house republicans as talks to avoid going over that so-called fiscal cliff are picking up steam. joining me now, mark halperin, senior political analyst for "time" and msnbc and ruth marcus, columnist and editorial writer for the "washington post." to you, mark, what is your read about what we've been hearing the last couple of days about grover norquist, the pledge and how much running room the speaker does have to b negotiating a deal. >> i did a spit take with my fruity pebbles watching "morning joe" because eric cantor's tone was unlike anything i've ever heard. his office is saying oh, no, he's against raising marginal rates, but it's clear that in the scheme of things, the biggest piece is does john boehner have enough running room to strike a deal involving some new revenue. i still am of the belief that the vote in the house, which will be a cliff hanger no matter what happens amongst the leaders in the white house, it will be a tough vote. i think it will
the white house took a hard line insisting tax rates have to rise on the rich. and warning that any more delay on a deal could ruin consumer confidence and hurt-day retail sales. nbc's tracie potts joins us from washington with all of those details. tracie, good morning to you. >> reporter: hi, lynn. good morning, everyone. as we track negotiations over the next few weeks, keep in mind that the key sticking point seems to be how do you get people who earn over $250,000 to contribute more? limit their deductions? close loopholes? or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we've been open to revenue by
on the issue of raising taxes. watch grover nord quist's people go to work. >> i am going to ask a question to everyone here on the stage. say you had a deal, a real spending cuts deal, 10-1 as byron said, spend willing cuts to tax increases. speaker, you are already shaking your head. who on this stage would walk away from that deal. could you raise your hand if you feel so strongly about not raising taxes that you would walk away on the 10-1 deal? >> joining me to review that list of greatness, another highlights and low lights. michael steele, and greg howard, both msnbc contributors. let me ask you this. is that a good day or a bad day for the republicans? >> i think it was a bad day. i thought it was very interesting that later on that huntsman said that he should have taken the 10-1 deal. he could have carved out a new deal on the stage. >> it wouldn't have looked very good after the election. >> i'm just saying that that moment sort of solidified the rest of the story for this party. >> you don't want to be the one that voted against it or vote for it when it fails. >> i agree with t
. they are still basically saying that they want to keep the bush-era tax cuts where they are, which is completely the opposite of democrats want, which is to let the bush-era tax cuts expire for the wealthiest americans. republicans talking about reforming entitlements. you have harry reid saying he is not open to reforming specifically social security. there may be some wiggle room on some of the other entitlements, but things are off to a rocky start with house speaker john boehner writing an editorial saying he thinks the president's health care plan should be on the table. that is certainly something that both sides will go to the mat over, but i think there's a lot of pressure to get a deal done by the first of the year for the reason that you just cited. because if they don't, this will have a big impact according to a lot of economists on the economy and they just don't want to see that happen and bear the brunt of that. >> understandably so. quickly, the president's plans for today are what? is he there in the house behind you or elsewhere? >> reporter: he is in the house behind me. quiet
the automatic spending cuts and tax increases. he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and get something done? >> maybe we will. maybe we will. >> you would think. >> yeah. or maybe we can just talk about 2016. >> we could do that as well. how are you doing, willie? >> i'm doing well. >> good. just two weeks after the longest -- >> thanks for stopping by. >> doing well. >> you know, just two weeks after the longest, most expensive and exhausting election in u.s. history eyes are turning to 2016 as speculation begins over the next batch of candidates lining up to run for president. >> who could that be? i know it's going to be a surprise. >> i know it is too. we'r
are very heavily dependent on property taxes and property values are far from the cupboard where they were and often assessments like behind what's going on with property values so we can expect continued decline some local school funding. at the federal level in the last couple years we've had a billion and a half dollars and cut to education programs. at the higher levels from the federal government has been restrictions on eligibility for the pell grant program. there's been restrictions on the student run program. so over the last couple years college students have contributed about four and a half billion dollars out of their pockets to his deficit reduction. so we've had thoughts of things squeezing us at different levels. we are now facing biggest threat through sequestered. janet mentioned the fiscal cliff in one part of the fiscal cliff is these across-the-board spending cuts to take effect january 2nd. it's going to be an 8.2% across-the-board cut in education, job training and health, housing, fbi, air traffic controllers from the food safety, entire range of domestic programs.
's the question that may take the republicans now four years to answer. did we go too right on taxes, immigrati immigration, foreign policy or were we too moderate, not ideological enough? one thing you can never be wrong on. if you lose, you can't brag. if you lose, everybody gets in, everything you did and nobody's going to admit he's wrong or she's wrong. joy reed is managing editor and jonathan is a bloomberg view columnist, both are msnbc plirt c political analysts. it seems like if you look at the trial balloons for 2016, you see the two directions in the party. there's people like rubio down in florida who's talking about the seven days of creation again. and then you've got on the other end of the world, you've got chris christie talking about how many days it's going to take us to clean up this mess from sandy. one's living in the secular real world. one's off in that theological, ideological ethereal world that the right likes to get into. joy, you're shaking your head. they haven't decided whether to go sky high into ideology with the old testament or to try to become a more modern p
on the issue of taxes, saying they don't want to see the bush era tax cuts expire for the wealthiest americans. of course, that is something the democrats have been adamant about. so they're stuck on this old issue of taxes. and also stuck on the issue of entitlements. we had harry reid come out and basically say he wasn't open to reforming especially social security. so there's a big question mark about how they're going to move forward. remember, these are sort of their opening bids. presumably there is room for some sort of movement on either side. in terms of getting a deal done by the first of the year, i think there's a lot of pressure on both sides to try to get something done here. you remember the debt ceiling debate. after that sort of knockdown dragout fight, congress had its lowest approval ratings in history. they know they need to get something done. remember, if they don't get something done before the first of the year, it could have serious consequences on the economy. >> i want to ask you both to weigh in on this question. kristen, you do the political angle and neil you give
way to do that and come back over tax reform next year. i think what the signs are that the president wants to raise tax rates on the wealthiest 2% of earners, a balanced approach, but the republican party is saying, hey, wait a minute. let's close tax loopholes, close deductions. that's a better way. so i think they are looking for are a path down the middle. >> doug, try to reconcile all of this. you have "the washington post" which highlighted the number of polls showing people want smaller government but they don't want cuts in any of the entitlement programs. they do want the deficit cuts. you can't have it all, right? >> right. well, if you look at the exit polling, most were supportive of raising rates on the rich and that has been consistent throughout this election season. i'm bullish. i don't know if it's the turkey or the drink or the redskins victory yesterday affecting me here but i'm bullish that there will be a solution. you have three dynamics here at play. you have a president who is significantly stronger, i think, speaker boehner is stronger inside of his conference
feel better. say that to the person next you as well. all joking aside to bear huge tax on the aside they can say very toxic comments and not be held to the same standard. dr. hill you may have see the recent article 15 most over redid route -- white people from columbus, ronald reagan and is shakespeare. the only worse speaking those words than a black person and stepping out of line. stay q4 stepping up four per cent volume a. is a beef and near if it was not so wrong. liberty is meaningless and it is not just a freedom of speech i will leave you with this the most accurate comment about her current book came from "the american spectator", "mugged" is not just a book but a public service. i agree wholeheartedly. and colder is a public service and i would take that over commander -- a community organizer and a day. please join me to welcome ann coulter 55. [cheers and applause] >> i hope this isn't like the chris christie speech. i did briefly a runoff with a biker buy came back. i am who paid by introduction is not longer than my speech because i will try something new. are worked
, when they've gotten down to brass tacks and what would have to be done and where the tax rates would need to be raised and where the cuts to medicare and medicaid would need to be, both sides seem unwilling to believe that the other side is really serious about making the changes that then. >> ben bernanke weighed in on this yesterday. let me play that for you. >> indeed, by the reckoning of the congressional budget office, the cbo, and that of many outside observers, a fiscal shock of that size would send the economy toppling back into recession. >> everyone i've had on this program, all the members of congress, have said to me, joanne, we have to get this done, of course it's going to get done. but we should remember it was a year ago today the grand bargain failed. so what's it going to take? >> you know, i think it might take the new congress being seated. i mean, if you think about it, you still have a lame duck congress so, while the election may have changed the atmosphere and sort of the story line for the members, the actual people themselves are still there. so they've not
at this morning's dish of scrambled politics. grover norquist, the man behind the anti-tax pledge, signed by a number of republicans over the years, could be losing even more support. georgia senator saxby chambliss tells a georgia tv station he's considering breaking the promise in order to avoid the so-called fiscal cliff. >>> and they are not the only ones trying to avoid the cliff. many major league baseball free agents are trying to get their money up front in 2012 to avoid tax increases. >>> well, the idea of selling designer merchandise on president obama's campaign website was mocked by some but the campaign is having the last laugh. bloomberg businessweek reports the idea by vogue editor anna wi wintor brought in more than $40 million. >>> meantime, the obama campaign is still fuming over some of the polls that got it wrong leading up to election day. the editor in chief for gallop whiched so mitt romney with a bigger lead admits gallup might have overestimated the get-out-the-oat efforts. >>> it's time for a geography quiz. put on your thinking caps. what is the name of this cou
it to be a stage set for tax reform. -- this week, you're going to see a lot of focus on the entitlement portion and the republicans have held their tongues. the whole discussion is about revenue. they are marshalling their ceo's to make demands on entitlements. >> so many of the business leaders don't want to go over the fiscal cliff. they really want tax reform to happen. whatever happens, they want this to be a stage setter. >>>> thank you for being on "newsmakers." [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> tomorrow on c-span, we look back at august 2011, as the news conferences around the budget control act. this created sequestration. that is split 50-50 between defense and non-defense spending. >> in january, our first week that we were sworn into office, the present as for the increase in the debt ceiling and i made it clear that there would not be an increase in the debt ceiling without changes to the way that we spend the american people's money. shortly after that i was in new york. we agreed that there should be
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
comprehensive entitlement reforms in exchange for an increase tax rate? >> i think that's an excellent question. let's make one thing clear. the entitlements have little to do with the day-to-day operation of the budget. they have their own separate budgets. they're paid for in a separate manner, through payroll taxes. so anybody that wants to do that is really holding the issue hostage. the other side is good at doing that. republicans have been very good at holding us hostage. we said to them at least pass the middle chas tax cuts and let's continue those and then we'll debate the other stuff. there is no compromising these ideologues. i want compromise. people want them to come together. if you hold the other issue or the other side hostage, it's not going to get done. i'm a little less optimistic than i was last week when i hear from staff and the discussions that are going on behind the scenes. i'm less optimistic about it. but i'm in there fighting for resolution. if we kick the can down the road, alex, this is the worst thing that we can do. it only builds up anxiety in the markets. >> i
keeps hit a detour. >> they got off to an optimistic start. >> the country faces drastic tax cuts. >> let's get right to the ia sex scandal and the breaking news scandal overnight. >> today we're learning how much access. >> you find a guy who says -- >> jill kelley from tampa, florida -- >> our journalist is priorities are out of whack and did david petraeus get unusual treatment from the veterans he cultivated. >>> some ignorant teenagers wrote horrible things about president obama on twitter, messages that were exposed by the website jezebel. but did they go too far in trying to get these students punished. >>> plus bill o'reilly called him one of the biggest race baiters in the media. kuhnen very sags with eric degreens. i'm howard kurtz and this is "reliable sources."gans. i'm howard kurtz and this is "reliable sources." >>> the president of the united states and. automatically takes effect in just of o every a month if they can't face an agreement. the health of the american economy and maybe if it goes down to the wire the fiscal cliff story will receive 1/10 theed my ya at
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